Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 23525 Fl-40
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
Exceptional opportunity to acquire the established Castaways Bar and Grill in Astor, Florida. This thriving, owner-occupied restaurant boasts a 28.33% cap rate and a substantial net operating income (NOI) of $340,000. The 3,318 square foot building sits on a generous 2.5-acre lot, offering ample space for parking, outdoor seating, and potential expansion. Currently operating at 100% occupancy since March 1st, 2024, the business features a full-service kitchen with extensive equipment including walk-in coolers, freezers, multiple fryers, and a charbroiler. The restaurant comfortably seats 172 patrons indoors, with additional outdoor seating. A dedicated party room caters to private events. The property includes a metal roof (replaced 4 years ago) and four 5-ton AC units. The sale includes a valuable SRX liquor license, approximately $100,000 in inventory, and $30,000 in liquor stock. The business employs 32 staff members. The property is zoned COMM and benefits from high visibility on a major road with excellent signage. The asking price is $1,200,000. This turnkey operation presents a rare opportunity for a strong return on investment in a desirable location. The restaurant is known for its home-style cooking and personal touch, attracting a loyal local clientele and even helicopter-arriving customers.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Astor
- County
- Lake
- State
- Florida
- Longitude
- -81.5503
- Latitude
- 29.162
